Trump announces deal with Putin to release Russian diesel

US President Donald Trump has announced a deal with Russian President Vladimir Putin to release Russian diesel to global markets. The move aims to address rising fuel costs before the US midterm elections. According to Trump, Russia will immediately supply more than 300,000 tons of diesel, followed by an additional 500,000 tons in November and 1 million tons 'immediately thereafter.' Trump wrote that Russia would deliver another 3 million tons 'within a short period of time' after that.

The US Treasury Department has issued a temporary license that will allow Russian diesel to reach global markets through April 2027. Trump's announcement follows his signing of a broad Russia sanctions law last month.

Ukrainian President Volodymyr Zelenskyy has condemned the agreement, saying that any easing of sanctions without a clear and lasting de-escalation agreement with Russia is an obvious sign of 'weakness.'

The Kremlin released a statement from Putin saying that, during their call, he and Trump had also devoted 'significant attention to the prospects of resolving the Ukrainian crisis' and had discussed 'the situation around Iran and various aspects of bilateral relations.'

Analysts have questioned whether Russia is capable of providing the quantity of diesel mentioned by Trump and the extent to which doing so will ease prices for American consumers. Tim Armitage, investment strategist at Quilter Cheviot, said the numbers mentioned by Trump were 'relatively small' and would not make a material difference to pump prices in the US.

The UK government spokesperson said its position 'could not be clearer' and it would continue working with international partners to support Ukraine and bring about sustained peace. 'We will also maintain pressure on Russia through the toughest sanctions regime ever imposed by the UK, increasing the cost of Putin's aggression and supporting efforts to secure a just and lasting peace.'